Susan Paulsen | Edmonton Real Estate

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Edmonton Real Estate - RBC HOUSING TRENDS AND AFFORDABILITY

Edmonton Real Estate - Alberta – Vibrant, under control, and affordable: what’s not to like?

Alberta’s housing markets continued to be among the stronger ones in Canada,

supported by a booming economy, rapidly rising population, and attractive

affordability. First-quarter home resales were 9.0% above the 10-year

average, which contributed to keeping demand-supply conditions fairly tight

in the province’s largest markets. Activity stabilized in the past two quarters,

however, thereby indicating that trends remain under control with few signs

of overheating. While generally up solidly from a year ago, home prices

were tame in the first quarter. With no added pressure coming from prices,

housing affordability remained predominantly flat in the first quarter. RBC’s

measures rose only slightly by 0.1 percentage points to 32.6% for detached

bungalows and 0.4 percentage points to 20.2% for condominium apartments,

while the measure for two-storey homes was unchanged at 34.4%. All

RBC’s measures continue to be below their long-term average in the province

 

To Read More about Housing Trends and Affordability in the Rest of Canada download the full report here!

 

 

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